December 11, 2013 / 3:18 PM / 5 years ago

MARKET PULSE-Groupon, CytRx, NorthStar Realty, Cisco, 3D printers

(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, Wall Street was lower on Wednesday. The Dow Jones industrial average was down 0.33 percent at 15,919.73, the S&P 500 was down 0.41 percent at 1,795.31 and the Nasdaq Composite was down 0.35 percent at 4,046.446.

** GROUPON INC, $10.4775, +4.36 pct

Wells Fargo raised its rating on the company’s stock to “outperform”, according to

** CYTRX CORP, $4.13, +72.80 pct

The company said its experimental cancer drug improved survival rates in soft tissue sarcoma patients without the disease progressing, compared to chemotherapy alone.

** NORTHSTAR REALTY FINANCE CORP, $11.74, +18.11 pct

The diversified commercial real estate investment company said it would spin-off its asset management business into a separate publicly traded company in the form of a tax-free distribution.

NorthStar Asset Management is expected to be listed on the New York Stock Exchange and will also manage company’s non-traded REIT business and own its broker-dealer platform.



Discovery Communications is considering a bid for Scripps Networks, home to the Food Network and HGTV. Discovery’s board discussed making a possible run at the sought-after cable company, according to a report in Variety citing a person with knowledge of the Discovery board meeting.

** BARNES & NOBLE INC, $13.54, -3.29 pct

The struggling bookstore chain’s Chairman Leonard Riggio has sold 2 million of his shares in the company he founded, lowering his stake in the company to 26.3 percent, according to a regulatory filing on Wednesday.

** MICROSOFT CORP, $37.81, -0.79 pct

** CISCO SYSTEMS INC, $20.8681, -1.61 pct

Europe’s second-highest court upheld a decision by European Union regulators clearing Microsoft’s $8.5 billion takeover of Skype in 2011, rejecting a challenge by the world’s top network equipment maker Cisco.

Citigroup started coverage on Cisco’s stock with a “sell” rating, according to

** TWITTER INC, $52.27, +0.54 pct

Macquarie started coverage of the company’s stock with a “neutral” rating.

** MASTERCARD INC, $797.38, +4.42 pct

The world’s No.2 credit and debit card company, on Tuesday announced a 10-for-1 stock split and raised its quarterly dividend by 83 percent.

At its Tuesday close, MasterCard was the third most expensive stock of the S&P500 Index behind Inc and Google Inc.

** AVANIR PHARMACEUTICALS INC, $3.44, -19.81 pct

The company said its drug used for the treatment of central neuropathic pain in patients with multiple sclerosis failed in a mid-stage trial. There was no difference between the treatment arms and placebo.

Mizuho cut its rating on the company’s stock to “neutral” from “buy”, according to

** ENCANA CORP, $18.38, -4.02 pct

Canada’s largest natural gas producer said it would boost liquids production by 30 percent in 2014 as part of new Chief Executive Doug Suttles’ plan to focus spending on regions rich in gas liquids and oil.

** JOY GLOBAL INC, $54.07, -3.86 pct

The mining equipment maker reported an 87 percent fall in quarterly profit as it took a big charge and coal miners cut spending due to a supply glut and weak prices.

** COSTCO WHOLESALE CORP, $118.21, -1.52 pct

The warehouse club operator reported a first-quarter profit and sales that fell short of analysts’ estimates, hurt by a rise in operating expenses.

** 3D SYSTEMS CORP, $80.06, -0.52 pct

** STRATASYS LTD, $122.96, +1.40 pct

** EXONE CO, $55.53, +1.54 pct

** VOXELJET AG, $38.16, -2.43 pct

Jefferies started coverage on the stock of 3D printer makers 3D Systems, Stratasys and ExOne with “buy” ratings, saying it sees near-term growth for 3D printing being driven by prototyping, with mass manufacturing as a long-term opportunity.

Jefferies started voxeljet, which went public in October, with a “hold” rating saying its valuation was the highest in the sector and doubts were raised about the sales posted by the company in the third quarter.

** VIMICRO INTERNATIONAL CORP, $1.949, +8.28 pct

The China-based company, which provides audio and video signal processing chips for cameras in PCs, said its unit won an order from the Baoding Public Security Bureau worth nearly $41 million, of which Vimicro will receive about $16 million.


The laboratory services provider cut the lower end of its full-year adjusted earnings forecast to a range of $6.90 to $7.05 per share, from $6.95 to $7.05.

Piper Jaffrey and Cannacord Genuity cut their price target on the company’s stock by as much as $24.


The maker of fully automatic transmissions for medium- and heavy-duty commercial vehicles said its largest shareholders, Carlyle Group LP and Onex Corp, sold 12.5 million shares.

** CENTRAL GARDEN & PET CO, $6.85, -6.42 pct

The lawn, garden and pet supplies company on Tuesday reported fourth-quarter results that missed the analysts’ average estimate, hurt by a decline in sales at its pet and garden businesses.

RADIOSHACK CORP, $2.84, -1.05 pct

The electronics retailer said on Tuesday that it closed a new five-year financing totaling $835 million, including a $585 million senior secured ABL credit facility led by GE Capital, Corporate Retail Finance and a $250 million secured term loan led by Salus Capital Partners LLC.

** SMITH & WESSON HOLDINGS CORP, $12.7, +4.79 pct

The gun maker reported better-than-expected second-quarter results as sales of handguns increased in the wake of a fresh push for gun control by U.S. President Barack Obama. The company also forecast current-quarter earnings above analyst estimates.

** URBAN OUTFITTERS INC, $37.3, +4.36 pct

The teen apparel retailer said on Tuesday that comparable sales in its retail segment were up by a “mid-single-digit” percentage so far in the fourth quarter, which includes the holiday season.


The provider of logistics and e-business services reported a profit of $617,000 for the first quarter, compared to a loss of $10.7 million a year earlier.

Compiled by Avik Das in Bangalore; Editing by Savio D'Souza

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